Our new system, changing the way we work
We are excited to announce that the first phase of Cadmium is now live!
Cadmium is a truly unique web application system which has been designed to automate as many manual business processes as possible, helping to ease everyday tasks for our team and our partners.
In this phase, we are now able to run our monthly ‘loss triangle’ reports at the click of a button and automate further data analysis tasks. These once time-consuming exercises now take a matter of minutes for our team. This enables our underwriters to spend more time on scheme analysis, aiding the development and improvement our products further.
Alongside running Acasta’s loss triangle reports, Cadmium helps us to cleanse data coming in from our partners. By doing this we can ensure that our data is as accurate and precise as. As a result, we will be able to provide even more accurate ratings, operating in time with current trends and external factors.
Coming to Cadmium
What we have achieved so far is just the beginning of how we see the system working for our business. We are already planning for phase 2, and we will be sure to continue developing the system to grow with Acasta’s needs and requirements. The following features are what’s to come, which will help both us and our agents.
We will soon be developing the system to hold accounts for all our agents. Here they will be able to easily access all the product details they need, including documents and rates, and submit any change requests to policies as necessary.
We also plan for all our brokers to be able to submit all their Bordereaux via Cadmium. This streamlines the process for our team whilst also providing immediate feedback to the agent via the built-in data validation rules, making this process more efficient for both parties.
Also included in the pipeline is a new document management system. We currently manage all our documents in-house which are manually built for each partner. The system would enable us to centralise all our policy wordings, IPIDs, and schedules making them easier to create and manage.
With our new Audit and Compliance team, run by Niâ Wŷn Roberts, auditing is becoming a much bigger part of how we do business. This is crucial to ensure we help our agents as much as possible. With our new team, we will be building an audit management section within Cadmium, developing the work they do with agent management and reporting functions.
These are only a few examples and we have many more exciting things to come. We can’t wait to share these next stages of development with all our agents and prospective clients!